Pebble Creek Mining Ltd. announces private placement



    VANCOUVER, Dec. 14 /CNW/ - Pebble Creek Mining Ltd. (the "Company") is
pleased to announce that it has arranged a non-brokered private placement (the
"Private Placement") of up to 5,000,000 Units at $0.40 per Unit for gross
proceeds of up to $2,000,000, with an over-allotment option, exercisable at
the Company's election, to issue up to an additional 500,000 Units for
additional gross proceeds of $200,000. Each Unit is comprised of (a) one
common share of the Company; (b) one-half of one Series A common share
purchase warrant (an "A Warrant"); and (c) one-half of one Series B common
share purchase warrant (a "B Warrant").
    Each whole A Warrant is exercisable for one common share of the Company
for a period of two years at a price of $0.75. If the closing trading price of
the Company's common shares on the TSX Venture Exchange is $1.50 per share or
higher for any 20 consecutive trading days during the term of the A Warrants,
the Company may elect to provide notice of acceleration of the exercise term
to holders of the A Warrants and the A Warrants will then expire thirty days
after such notice is given.
    Each whole B Warrant is exercisable for one common share of the Company
for a period of two years at a price of $1.50.
    The Company may pay to certain finders a fee comprised of (i) cash of up
to 8% of the gross proceeds of the Private Placement; or (ii) Units ("Finder's
Units") equal to up to 8% of the number of Units sold under the Offering, or
(iii) a combination of cash and Finder's Units, which in the aggregate shall
not exceed 8% of the gross proceeds of the Private Placement and the total
number of Units sold under the Private Placement.
    The Private Placement is subject to the TSX-Venture Exchange's approval.
    The net proceeds from the Private Placement will be used for exploration
and development of the Company's projects, for acquisitions and for working

    Pebble Creek Mining Ltd. is one of the leading Canadian companies in
India's metals exploration sector. Its Askot property located in Uttarakhand
State is a massive sulphide copper and zinc deposit that was previously
drilled and tunnelled by government agencies. Current drilling is aimed at
establishing a NI 43-101 compliant mineral resource. The Company also holds
interests in two other mineral properties and has fourteen applications for
mineral properties in progress.

         Not for dissemination or distribution in the United States.

    The securities issued by the Company have not and will not be registered
under the United States Securities Act of 1933, as amended (the "1933 Act"),
or the securities laws of any state of the United States, and may not be
offered or sold in the United States absent registration or an applicable
exemption there from under the 1933 Act and the securities laws of all
applicable states.

    Andrew E. Nevin, President and Chief Executive Officer
    On Behalf of the Board of Directors of Pebble Creek Mining Ltd.

    The TSX-Venture Exchange has not reviewed and does not accept
    responsibility for the accuracy or adequacy of this release.

    %SEDAR: 00023083E

For further information:

For further information: Gyan Singhai, Executive Chairman, Telephone:
(604) 696-6101, Fax: (604) 696-6196

Organization Profile

Pebble Creek Mining Ltd.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890